TAG Oil News

2020 News

TAG Oil Provides TSX-V Listing Update

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) confirms that in accordance with its release dated June 12, 2020, the TSX Venture Exchange (“TSX-V”) has approved the Company’s application to trade on the TSX-V, and that the Company will voluntary de-list its common shares from the Toronto Stock Exchange (“TSX”). TAG’s common shares will continue to trade on the TSX until the close of trading on June 26, 2020. At the opening of the market on June 29, 2020, TAG’s common shares will be listed for trading on the TSX-V.…

Read More >

TAG Oil CEO Toby Pierce Clarifies “Due Bill” Timing

As we announced in our March 16 news release, TAG Oil will be returning C$0.30 per share back to our shareholders on a due bill basis. TAG Oil CEO Toby Pierce wrote the following message to shareholders to explain the process. I have had a number of questions on this, so I thought I would try and explain more fully this process and what it means for TAG Oil’s shares/shareholders.  Bottom line – you need to hold the shares of TAG Oil through April 14th closing to receive the 30 cent…

Read More >

TAG Oil Announces Return of Capital to Shareholders

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) has conducted a detailed evaluation of the overall business environment and opportunities for the Company to create long-term value for its shareholders following the New Zealand asset sale. TAG’s Board and management have determined that a return of capital to its shareholders in the amount of C$0.30 per common share (~C$25.6 million in cash), in accordance with Canadian income tax law, is in the best interest of shareholders. The return of capital is scheduled to be paid on April 14, 2020 (payment date)…

Read More >

TAG Oil Provides Corporate Update

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide the following corporate update. TAG’s current cash balance stands at ~C$41 million following a royalty payment of ~C$0.25 million for the quarter ended December 31, 2019. TAG holds a 2.5% gross overriding royalty on all future production from the New Zealand assets that it sold to Tamarind Resources Pte. Ltd. in September 2019. Further details on TAG’s royalty and remaining milestone payments from New Zealand can be found in the management information circular dated November 30, 2018, which…

Read More >

TAG Oil Reports Q2 2020 Results

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report its second quarter results for the interim period ending September 30, 2019, which includes completing the sale of TAG’s New Zealand assets (the “Transaction”).TAG is well positioned and is continuing to look at all available options in oil and gas to determine the preferred use of the proceeds from the Transaction in order to maximize value for shareholders. Q2 2020 HIGHLIGHTS   On September 25, 2019, TAG announced the closing of the Transaction. Following closing of the Transaction,…

Read More >

TAG Oil Provides Corporate Update

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide this corporate update following closing of the sale of its New Zealand assets (the “Transaction”). Post the closing of the Transaction and certain adjustments for working capital, TAG has been significantly repositioned with a cash balance of ~C$41 million, ongoing cashflow from the 2.5% gross overriding royalty on all future production from the New Zealand assets sold, and up to US$4.5 million in future event specific payments payable on Tamarind Resources Pte. Ltd. achieving certain milestones. TAG has…

Read More >

TAG Oil Announces Election of Board of Directors

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to announce the results from its 2019 annual general meeting of shareholders (the “Meeting”) held in Vancouver, B.C. on September 26, 2019. All seven of the nominees listed in TAG’s management information circular dated August 26, 2019 that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company’s shareholders or until their successors are elected or appointed.    The results…

Read More >

TAG Oil Announces Closing of Transaction with Tamarind

TAG Oil Ltd. (TSX: TAO, OTCQX: TAOIF) is pleased to announce that it has closed its previously announced sale of substantially all of its New Zealand assets to Tamarind Resources Pte. Ltd. (the “Transaction”). Following closing of the Transaction, TAG has ~US$30 million in cash and will continue to have exposure to the potential upside from all New Zealand assets sold as follows: 5% gross overriding royalty on production from PMP 38156 (Cheal and Cardiff), PMP 53803 (Sidewinder), PMP 60454 (Supplejack), PEP 51153 (Puka), PEP 57065 (Waitoriki), PMP 60291 (Cheal…

Read More >

TAG Oil Provides Update on Transaction with Tamarind

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide the following update on the sale of its New Zealand assets to Tamarind Resources Pte. Ltd. (“Tamarind”). TAG and Tamarind have mutually agreed to extend the closing date of the transaction under the share and asset purchase agreement. All necessary approvals have been granted and TAG and Tamarind are working on the final items necessary to close the transaction. Both TAG and Tamarind are committed to completing the sale and are continuing to work diligently to close the…

Read More >

TAG Oil Reports Q1 2020 Results

TAG Oil Ltd. is pleased to report its first quarter results for the interim period ending June 30, 2019, which includes a 32% increase in revenues generated from oil and gas sales along with a 16% increase in net daily production. Q1 2020 HIGHLIGHTS   At June 30, 2019, the Company had $7.2 million (March 31, 2019: $1.9 million) in cash and cash equivalents and $6.4 million (March 31, 2019: $0.06 million) in working capital. Average net daily production increased by 16% for the quarter ended June 30, 2019, to…

Read More >